Answer:
Correct option is B
$160,000
Explanation:
From the question above, Cost of goods sold of $160,000 is treated as a negative item in calculating gross income rather than as a deduction.
For a drug dealer like Tom, all deductions
listed above are disallowed.
Answer:
Acquisition
Explanation:
Acquisition mode of entry is a type of foreign market entry mode that offers fast, large and international expansion into a new market. This is done by a firm gaining control of another firm through the purchase of stocks or exchange of stocks. This type of strategy is usually used by multinational companies to acquire greater market power. A disadvantage of this type of entry is the high cost and integration is difficult due to different organization cultures and relationships..
Answer:
Part A. $1200
Part B. $1200
Explanation:
Part A.
Under MACRS rules, the depreciation rate for the 5 year recovery period asset would be:
Year 1 20%
Year 2 32%
Year 3 19.2%
Year 4 11.52%
Year 5 11.52%
Year 6 5.76%
This means that the first year MACRS depreciation deduction would be 20% which is $1200 ($6000 * 20%).
Part B.
If Sid does not elect Section 179 expensing then the depreciation would be calculated using straight line basis.
The depreciation would be:
Depreciaiton Expense = $6000 / 5 Years life = $1200
The Erie canal was able to connect industries and consumers in the east with c. Midwestern farmers.
The Erie Canal:
- Was completed in 1825
- Connected New York City and the Great Lakes
- Allowed for goods to be shipped to and from the New York to the Great Lakes
The Great Lakes were accessible to farmers in the midwestern region and after the Erie Canal was built, farmers were able to send their produce via the Great Lakes and through the Erie Canal to New York City where it could be purchased by industries and people or shipped internationally.
In conclusion, the Erie canal was very important to midwestern farmers as it increased their reach.
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Options for this question include:
a. Southern planters
b. Canadian fur traders
c. Midwestern farmers
d. New England fishers
Answer:
Ponzi scheme
Explanation:
Ponzi scheme is a fraud investment strategy that promises to pay a substantial sum of returns. In a Ponzi scheme, generate income for the old investor by using the money of the newest investor and this chain goes on. This is basically a fraudulent scam or investment strategy to get a significant amount of money. Ponzi scheme is similar to pyramid strategy both are based on using new investor’s fund.
